finance
J.P. Morgan Rates Qualcomm Neutral, Sets $140 Price Target Amid Competition
J.P. Morgan downgraded Qualcomm from Overweight to Neutral and cut its price target to $140, citing increased competition and downside risks. The firm placed Qualcomm on negative catalyst watch due to challenges in data center markets and reduced revenue forecasts in licensing and chipsets.
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P. com. The investment bank also placed Qualcomm on a negative catalyst watch, signaling potential near-term challenges for the company. The downgrade reflects rising competition in the data center space.
P. Morgan cited smartphone market share losses as a factor contributing to the downgrade. The firm also noted reduced revenue forecasts for Qualcomm’s licensing and chipset businesses, which add to the downside risks for near-term estimates.
The downgrade and revised price target come amid a challenging environment for Qualcomm as it navigates intensified competition and evolving market dynamics in both data center and smartphone segments.
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